Middlefield Banc Corp. (MBCN) to Issue Quarterly Dividend of $0.21 on December 12th

Middlefield Banc Corp. (NASDAQ:MBCN) declared a quarterly dividend on Monday, November 17th. Stockholders of record on Friday, November 28th will be paid a dividend of 0.21 per share by the bank on Friday, December 12th. This represents a c) annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, November 28th.

Middlefield Banc has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 1 years. Middlefield Banc has a payout ratio of 38.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Middlefield Banc to earn $2.12 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 39.6%.

Middlefield Banc Stock Performance

NASDAQ:MBCN opened at $32.19 on Wednesday. Middlefield Banc has a fifty-two week low of $22.74 and a fifty-two week high of $34.68. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.99 and a current ratio of 0.99. The company has a 50 day moving average price of $31.30 and a 200 day moving average price of $30.21. The stock has a market capitalization of $260.42 million, a P/E ratio of 12.33 and a beta of 0.46.

Middlefield Banc (NASDAQ:MBCN) last released its quarterly earnings results on Wednesday, October 22nd. The bank reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The company had revenue of $19.89 million for the quarter, compared to analysts’ expectations of $19.57 million. Middlefield Banc had a return on equity of 9.79% and a net margin of 18.39%. Equities research analysts forecast that Middlefield Banc will post 1.96 EPS for the current year.

Hedge Funds Weigh In On Middlefield Banc

Several hedge funds and other institutional investors have recently made changes to their positions in MBCN. Alliancebernstein L.P. increased its stake in shares of Middlefield Banc by 9.9% during the third quarter. Alliancebernstein L.P. now owns 197,516 shares of the bank’s stock worth $5,927,000 after buying an additional 17,804 shares during the period. Geode Capital Management LLC increased its position in shares of Middlefield Banc by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 171,134 shares of the bank’s stock valued at $5,154,000 after purchasing an additional 3,308 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. raised its holdings in shares of Middlefield Banc by 11.8% in the 3rd quarter. Elizabeth Park Capital Advisors Ltd. now owns 96,497 shares of the bank’s stock valued at $2,896,000 after purchasing an additional 10,190 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Middlefield Banc by 3.7% in the 3rd quarter. Bridgeway Capital Management LLC now owns 50,422 shares of the bank’s stock valued at $1,513,000 after purchasing an additional 1,819 shares in the last quarter. Finally, Fisher Asset Management LLC purchased a new stake in shares of Middlefield Banc during the 2nd quarter worth $1,056,000. Hedge funds and other institutional investors own 31.72% of the company’s stock.

About Middlefield Banc

Middlefield Banc Corp. operates as the bank holding company for The Middlefield Banking Company that provides various commercial banking services to small and medium-sized businesses, professionals, small business owners, and retail customers in northeastern and central Ohio. It offers checking, savings, negotiable order of withdrawal accounts, money market accounts, time certificates of deposit, commercial loans, real estate loans, various consumer loans, safe deposit facilities, and travelers' checks.